Harland & Wolff Share Discussion Threads

[lyndonharrison] 02/6/2022 22:37

Belfast’s historic Harland & Wolff (H&W) shipyard has clinched its first newbuilding order since being bought out of administration in 2019.

And the company, owned by UK infrastructure fund InfraStrata, also announced an intriguing deal to convert a UK naval vessel.

H&W said it will build 11 barges for Cory Group in a contract worth £8.5m ($10.7m).

The units will carry London’s recyclable and non-recyclable waste on the River Thames.

The first steel will be cut in about eight weeks...

[livewireplus] 01/6/2022 14:00

PS: Previously the only other thing I could find for it was this (which didn't mention price):http://bidstats.uk/tenders/2020/W26/729677934

[livewireplus] 01/6/2022 13:57

Thanks for details of the Quorn upgrade package .... let's see if Thales / A&P get it as per two previous Hunt-class upgrades for Lithuania - or if H&W can get a foot in the door ...

[1alfi] 01/6/2022 13:44

HMS Quorn, which was decommissioned in December 2017, is being transferred under a sales package that will include the regeneration and upgrade of the vessel. The United Kingdom’s Defence Equipment Sales Authority (DESA), part of the MoD’s Defence Equipment and Support (DE&S) organisation, will contract for the regeneration and upgrade on behalf of the Lithuanian Defence Materiel Agency. The package is estimated to be worth between GBP40-50 million (USD50.4-63.3 million).

[...]

[livewireplus] 01/6/2022 12:48

PS: From info I can see on internet for the refurb of the two previous Hunt-class ships for Lithuania then the prime contractor was Thales with work being done at A&P Falmouth ...

[livewireplus] 01/6/2022 12:28

mrmark .... Have you got a link to the MoD for that contract value? As far as I can see HMS Qourn has been bought by Lithuanian Navy and they'll be arranging the refurb: https://des.mod.uk/mine-hunter-sale/ 

[livewireplus] 01/6/2022 12:17

Indeed .... not sure what spare parts and components are going to be used from the good ship Atherstone for HMS Quorn should that contract proceed further with H&L as it has been previously mentioned for Atherstone that:'The vessel is sound for towing but is no longer in running condition and since decommissioning this vessel has been extensively stripped to support the fleet including engine removal.'

[livewireplus] 01/6/2022 09:47

Indeed a bit contradictory. Let us hope they get the MoD refurb ... perhaps with used parts available they'll win it as only competative tender (well we'll know within a few weeks) - and it'll be a 'new fit-out' with the purchased vessel to obtain and complete the non-MoD refurb. IF both come to fruition then it bodes well for future. Just my 2p's worth

[1alfi] 01/6/2022 09:36

"The Company has acquired this vessel with a view to refurbishing it for non-military uses, discussions for which have already commenced with interested parties."

" I am pleased that we have generated a lot of interest for the repurposing of the former HMS Atherstone, and I expect to make announcements in this regard as soon as we have executed a refurbishment contract with a counterparty."

[mrmark1] 01/6/2022 08:11

Why would the MOD have sold a ship that parts are needed from to refurbish M55 if it wasn't a done deal?!Wouldn't want to be short of the stock in a few weeks and other contracts can land anytime for the multiples of the market cap in any of the sectors H&W are in...including wind fabrication. Hint / hint....Management believes that the acquisition of the former HMS Atherstone will significantly de-risk the M55 regeneration programme given that the two vessels share a number of spare parts and components. Should the Company be awarded the regeneration programme for the M55, such spare parts and components on the HMS Atherstone will be utilised during the regeneration programme of the M55. Management expects negotiations with the MOD on the M55 regeneration programme to be completed in the next few weeks with an announcement to be made thereafter, should an award be made in the Company's favour.

[this_is_me] 01/6/2022 06:29

Current market cap. £12 million, contract win revenue £8.5 million for delivery within a year. Definitely a significant contract win.

[skinny] 01/6/2022 06:04

Harland & Wolff Group Holdings plc (AIM: HARL), the UK quoted company focused on strategic infrastructure projects and physical asset lifecycle management, is pleased to announce that it has acquired the former HMS Atherstone from the Ministry of Defence (MOD).

The former HMS Atherstone is a mine hunting class vessel that is no longer in Service. The Company has acquired this vessel with a view to refurbishing it for non-military uses, discussions for which have already commenced with interested parties.

As announced previously, the Company is involved in a competition run by the MOD regeneration programme for the former HMS Quorn (M55). Management believes that the acquisition of the former HMS Atherstone will significantly de-risk the M55 regeneration programme given that the two vessels share a number of spare parts and components. Should the Company be awarded the regeneration programme for the M55, such spare parts and components on the HMS Atherstone will be utilised during the regeneration programme of the M55. Management expects negotiations with the MOD on the M55 regeneration programme to be completed in the next few weeks with an announcement to be made thereafter, should an award be made in the Company's favour.

[skinny] 01/6/2022 06:02

Harland & Wolff Group Holdings plc (AIM: HARL), the UK quoted company focused on strategic infrastructure projects and physical asset lifecycle management, is pleased to announce that it has been awarded an initial contract worth approximately GBP8.5 million with Riverside Resource Recovery Limited, part of the Cory Group of companies ("Cory") for the fabrication of eleven barges.

The barges will be used by Cory to transport London's recyclable and non-recyclable waste on the River Thames.

Fabrication will take place at the Harland & Wolff Belfast site, with first steel being cut within approximately eight weeks' time. The programme schedule allows for four barges to be built in tandem, with the entire build programme ending around Q2 2023. Fully fabricated barges will be sequentially delivered to Cory with the client taking delivery on the River Thames.

Harland & Wolff, group CEO John Wood, commented:

"With this material contract, we shall be opening up our vast undercover fabrication halls in Belfast and making optimal use of our new robotic welding panel line. This contract gives us the opportunity to optimise our production flows in readiness for other fabrication programmes in our plans and it demonstrates the variety of fabrication work that our facilities are ideally placed to execute upon. I am delighted to have secured this contract with our new client, Cory Group, and look forward to working very closely with them to deliver on their new barge investment programme going forward."

[ijamlon] 27/5/2022 15:51

Massive recovery today in all small ca.... Oh.

[terminator101] 26/5/2022 11:09

Oh dear, dumping under bid. Gonna drop soon.

[this_is_me] 24/5/2022 21:40

Disappointing reaction to yesterday's RNS.

[ijamlon] 23/5/2022 21:08

The sad thing is that a lot of the investors are not gamblers but shipbuilding enthusiasts who don't always understand the difference between newsflow / expected revenue and sustainable profit / shareholder value. They are just getting bled dry to feather the nests of the top 2 goons. What I have witnessed with this company undermines my faith in the U.K. approach to listed company governance. I hope someone gets their comeuppance one day.

[diku] 23/5/2022 20:12

Then somebody will buy it for a song...and then refloat it again and sucker in more...wash rinse and spin cycle repeat...

[ijamlon] 23/5/2022 13:20

I guess they will have exhausted the cash from the last placing before long. I guess they’ll do their best to have a placing above 10p. But chance the market will only bite at 8p.

[diku] 23/5/2022 13:06

What a mountain reversal...13p to 22p...and now back to 13p...lot of share are proving not for keeps...